SMP Q2 sales up 10.4% to $390M; adj EPS $0.98 vs $0.84; reaffirms Nissens acquisition

STANDARD MOTOR PRODUCTS, INC.

2024-Q2 EPS reported $1.16 revenue$721,232,000

Q2 net sales $389.8M (+10.4% YoY); GAAP EPS $0.81; adjusted EPS $0.98 vs $0.84.
Temperature Control sales record +28.2% YoY; Vehicle Control +2.7%; Engineered Solutions +6.1%.
Early retirement program targets ~$10M annual savings; $2.6M severance in Q2.
Quarterly dividend $0.29/share payable Sept 3, 2024 to holders of record Aug 15.
Nissens acquisition for ~$388M (€360M) expected to close by end of 2024.

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